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Neuberger Berman to price $505.13 million of notes in new CLO 30 offering
By Cristal Cody
Tupelo, Miss., Dec. 3 – Neuberger Berman Loan Advisers LLC plans to price $505.13 million of notes due Jan. 20, 2031 in the Neuberger Berman Loan Advisors CLO 30, Ltd./Neuberger Berman Loan Advisors CLO 30, LLC transaction, according to a market source.
The deal includes $300 million of class A-1 floating-rate notes (//AAA); $25 million of class A-2 floating-rate notes (//AAA); $55 million of class B floating-rate notes; $32.5 million of class C floating-rate notes; $27.5 million of class D floating-rate notes; $20 million of class E floating-rate notes and $45.13 million of subordinated notes.
Natixis Securities Americas LLC is the placement agent.
Neuberger Berman Loan Advisers will manage the CLO, which has a two-year non-call period and a five-year reinvestment period.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The deal is expected to close on Jan. 22.
Neuberger Berman is a Chicago-based firm that is part of Neuberger Berman Group, LLC.
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